First Horizon National Corp (FHN) Shares Bought by Public Employees Retirement Association of Colorado

First Horizon National Corp (FHN) Shares Bought by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado lifted its stake in First Horizon National Corp (NYSE:FHN) by 7.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,413 shares of the financial services provider’s stock after buying an additional 3,735 shares during the period. Public Employees Retirement Association of Colorado’s holdings in First Horizon National were worth $1,068,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. PNC Financial Services Group Inc. boosted its position in shares of First Horizon National by 2.4% in the second quarter. PNC Financial Services Group Inc. now owns 12,227 shares of the financial services provider’s stock worth $214,000 after buying an additional 286 shares during the period. Gotham Asset Management LLC boosted its position in shares of First Horizon National by 6.6% in the second quarter. Gotham Asset Management LLC now owns 14,002 shares of the financial services provider’s stock worth $244,000 after buying an additional 873 shares during the period. Quantitative Systematic Strategies LLC boosted its position in shares of First Horizon National by 3.0% in the fourth quarter. Quantitative Systematic Strategies LLC now owns 107,444 shares of the financial services provider’s stock worth $2,148,000 after buying an additional 3,100 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of First Horizon National by 3.8% in the third quarter. Public Employees Retirement System of Ohio now owns 88,447 shares of the financial services provider’s stock worth $1,694,000 after buying an additional 3,222 shares during the period. Finally, Delta Asset Management LLC TN boosted its position in shares of First Horizon National by 10.9% in the fourth quarter. Delta Asset Management LLC TN now owns 44,818 shares of the financial services provider’s stock worth $896,000 after buying an additional 4,408 shares during the period. 64.88% of the stock is owned by institutional investors.

Several equities research analysts have recently weighed in on the company. Barclays reaffirmed an “equal weight” rating and issued a $21.00 target price on shares of First Horizon National in a research report on Monday, December 4th. Vining Sparks raised First Horizon National to a “buy” rating and set a $25.00 target price for the company in a research report on Monday, January 8th. Hovde Group set a $22.00 target price on First Horizon National and gave the stock a “hold” rating in a research report on Monday, January 22nd. Morgan Stanley upped their target price on First Horizon National from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 13th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $22.00 target price on shares of First Horizon National in a research report on Tuesday, December 5th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, four have given a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $22.11.

In related news, Director Peter N. Foss sold 30,000 shares of the stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $20.32, for a total value of $609,600.00. Following the completion of the transaction, the director now owns 56,220 shares of the company’s stock, valued at $1,142,390.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.09% of the company’s stock.

First Horizon National Corp (NYSE:FHN) opened at $19.39 on Friday. The company has a market capitalization of $6,335.41, a PE ratio of 17.31, a P/E/G ratio of 1.96 and a beta of 0.98. First Horizon National Corp has a 1-year low of $15.84 and a 1-year high of $20.86. The company has a quick ratio of 0.90, a current ratio of 0.92 and a debt-to-equity ratio of 0.27.

First Horizon National (NYSE:FHN) last issued its quarterly earnings results on Friday, January 19th. The financial services provider reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.01. The firm had revenue of $375.30 million during the quarter, compared to the consensus estimate of $368.93 million. First Horizon National had a return on equity of 8.80% and a net margin of 11.18%. First Horizon National’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.23 earnings per share. equities analysts forecast that First Horizon National Corp will post 1.42 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Friday, March 9th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $0.48 dividend on an annualized basis and a yield of 2.48%. This is an increase from First Horizon National’s previous quarterly dividend of $0.09. First Horizon National’s dividend payout ratio is currently 52.17%.

First Horizon National declared that its Board of Directors has approved a share repurchase plan on Tuesday, January 23rd that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

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About First Horizon National

First Horizon National Corporation (FHN) is a bank holding company. The Company provides financial services through its subsidiary, First Tennessee Bank National Association (the Bank). The Company has four segments: regional banking, fixed income, corporate and non-strategic. The Company’s regional banking segment offers financial products and services, including traditional lending and deposit taking, to retail and commercial customers in Tennessee and other selected markets.

Institutional Ownership by Quarter for First Horizon National (NYSE:FHN)

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Public Employees Retirement Association of Colorado grew its position in shares of First Horizon National Corp (NYSE:FHN) by 7.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 53,413 shares of the financial services provider’s stock after buying an additional 3,735 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in First Horizon National were worth $1,068,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. Gamco Investors INC. ET AL bought a new position in First Horizon National during the 4th quarter worth approximately $468,000. US Bancorp DE lifted its holdings in First Horizon National by 31.2% during the 4th quarter. US Bancorp DE now owns 19,929 shares of the financial services provider’s stock worth $399,000 after buying an additional 4,735 shares during the last quarter. Aperio Group LLC lifted its holdings in First Horizon National by 7.8% during the 4th quarter. Aperio Group LLC now owns 145,377 shares of the financial services provider’s stock worth $2,906,000 after buying an additional 10,493 shares during the last quarter. Comerica Bank lifted its holdings in First Horizon National by 19.0% during the 4th quarter. Comerica Bank now owns 419,077 shares of the financial services provider’s stock worth $8,503,000 after buying an additional 67,052 shares during the last quarter. Finally, Monarch Partners Asset Management LLC bought a new position in First Horizon National during the 4th quarter worth approximately $9,814,000. 64.88% of the stock is currently owned by institutional investors.

In related news, Director Peter N. Foss sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $20.32, for a total value of $609,600.00. Following the sale, the director now directly owns 56,220 shares in the company, valued at approximately $1,142,390.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.09% of the stock is owned by company insiders.

Shares of First Horizon National Corp (FHN) opened at $19.39 on Friday. First Horizon National Corp has a 1 year low of $15.84 and a 1 year high of $20.86. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.92 and a quick ratio of 0.90. The company has a market capitalization of $6,335.41, a P/E ratio of 17.31, a P/E/G ratio of 1.96 and a beta of 0.98.

First Horizon National (NYSE:FHN) last posted its earnings results on Friday, January 19th. The financial services provider reported $0.30 EPS for the quarter, beating the consensus estimate of $0.29 by $0.01. First Horizon National had a return on equity of 8.80% and a net margin of 11.18%. The firm had revenue of $375.30 million for the quarter, compared to analysts’ expectations of $368.93 million. During the same period last year, the firm earned $0.23 EPS. The firm’s revenue was up 17.4% compared to the same quarter last year. equities analysts anticipate that First Horizon National Corp will post 1.42 earnings per share for the current year.

First Horizon National announced that its board has approved a stock repurchase plan on Tuesday, January 23rd that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Friday, March 9th will be given a $0.12 dividend. This is a boost from First Horizon National’s previous quarterly dividend of $0.09. This represents a $0.48 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend is Thursday, March 8th. First Horizon National’s dividend payout ratio (DPR) is currently 52.17%.

A number of analysts have recently weighed in on the company. Raymond James Financial upgraded First Horizon National from an “outperform” rating to a “strong-buy” rating and set a $22.00 price target on the stock in a research report on Wednesday, November 8th. Royal Bank of Canada reiterated a “hold” rating and set a $22.00 price target on shares of First Horizon National in a research report on Tuesday, December 5th. Vining Sparks upgraded First Horizon National to a “buy” rating and set a $25.00 price target on the stock in a research report on Monday, January 8th. Barclays reiterated an “equal weight” rating and set a $21.00 price target on shares of First Horizon National in a research report on Monday, December 4th. Finally, Zacks Investment Research upgraded First Horizon National from a “hold” rating to a “strong-buy” rating and set a $23.00 price target on the stock in a research report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, four have given a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $22.11.

COPYRIGHT VIOLATION WARNING: This article was first reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this article on another domain, it was illegally copied and reposted in violation of U.S. & international copyright & trademark law. The legal version of this article can be viewed at https://www.dispatchtribunal.com/2018/02/18/first-horizon-national-corp-fhn-shares-bought-by-public-employees-retirement-association-of-colorado.html.

First Horizon National Profile

First Horizon National Corporation (FHN) is a bank holding company. The Company provides financial services through its subsidiary, First Tennessee Bank National Association (the Bank). The Company has four segments: regional banking, fixed income, corporate and non-strategic. The Company’s regional banking segment offers financial products and services, including traditional lending and deposit taking, to retail and commercial customers in Tennessee and other selected markets.

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Institutional Ownership by Quarter for First Horizon National (NYSE:FHN)

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